《大行報告》高盛:兗礦能源(01171.HK)業績符預期 維持「中性」評級
高盛發表研究報告指,兗礦能源(01171.HK)去年按國際財務報告準則純利為304億元人民幣,按年增79%,剔除一次性主要針對資產減值,經常性淨利為320億元人民幣,按年增長88%,符合預期。公司擬派發末期息4.3元,派息比率為70%,而2021年為58%。公司又擬按每10股現有股份送5股紅股。
該行下調2023財年盈利預測1%,2024年盈測則上調1%,以反映更新的基準煤炭價格和去年業績。該行對集團H股維持「中性」評級,續予目標價21元。就未來產能增加而言,該行預計集團於2023至25財年期間,將增加9億噸的產量,佔去年自營礦產總銷量的9%。產能為180萬噸的萬福礦預計將於2024年投產,並料公司可從潛在的新項目中獲得約1,300萬噸的額外產能。
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